March proved to be a busy month for funding in Austin tech, with 17 companies collectively raising more than $133 million. That’s up about $45 million from February’s numbers.
Coming in hot at $7.5 million or above, these five rounds lead the month's surge in capital.
5. Umbel, $7.5M, March 23
Investors: Undisclosed.
Bio: A regulatory filing for the funding round was submitted by U-MVP Holdings — the holding company for the newly merged MVPIndex and Umbel, which is led by CEO Stan Woodward and headquartered in Austin. Both data management companies continue to operate as independent brands.
News: According to the SEC filing, U-MVP’s March funding marks the halfway point of a $15 million offering. The company did not issue a statement.
4. Drillinginfo, $8.7M, March 22
Investors: Undisclosed.
Bio: Founded in 1999, Drillinginfo provides over 3,500 companies from the energy, power and commodities sectors with analytical software that reduces risk, offers competitive intelligence and unveils market insights.
News: According to an SEC filing, this is the third amendment to a funding round opened three years ago. This month’s amendment brings the round to nearly $23 million. The company did not issue a statement.
3. Elligo Health Research, $16M, March 20
Investors: Hatteras Venture Partners, Noro-Moseley Partners, FS Healthcare LLC, Excelerate Health Ventures and Shumway Capital.
Bio: Elligo’s platform analyzes health data to identify patients suitable for clinical research, allowing patients to participate under the care of their own physicians. The goal is to build up clinical studies that can bolster the development of pharmaceuticals, biotech and medical devices.
News: Chad Moore, president of Elligo, said in a statement that the funding will be used to continue to grow the company’s network of physicians and to improve its tech platform.
2. TurnKey Vacation Rentals, $31M, March 12
Investors: Adam Street Partners and Altos Ventures.
Bio: TurnKey Vacation Rentals supports over 3,500 rental properties with a full-service management solution. Its platform takes care everything from marketing and booking, to lock code delivery, guest support and housekeeping scheduling.
News: Co-founder and CEO T.J. Clark said TurnKey has doubled its market growth every year for five years running. The company supports properties from 55 markets and will use the funding to continue to expand into more.
1. Mythic, $40M, March 20
Investors: SoftBank Ventures, DFJ, Lux Capital, Data Collective, AME Cloud Ventures, Lockheed Martin Ventures and Andy Bechtolsheim.
Bio: With headquarters split between California and Austin, Mythic is developing energy-efficient chips to bring AI-connected technology to devices like self-driving cars, fitness gears and hearing aides.
News: Mythic will use the funding to prep for its sample product release slated for the end of 2018. This prep includes expanding both its California-based software team and its Austin hardware development team.
